TD Asset Management Inc Lowers Position in Loews Corporation $L

TD Asset Management Inc reduced its position in shares of Loews Corporation (NYSE:L) by 10.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 230,897 shares of the insurance provider’s stock after selling 27,019 shares during the period. TD Asset Management Inc’s holdings in Loews were worth $23,180,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SJS Investment Consulting Inc. increased its position in Loews by 880.8% during the 3rd quarter. SJS Investment Consulting Inc. now owns 255 shares of the insurance provider’s stock worth $26,000 after purchasing an additional 229 shares during the period. Elevation Point Wealth Partners LLC purchased a new stake in shares of Loews in the second quarter valued at approximately $27,000. NewSquare Capital LLC grew its holdings in Loews by 404.1% during the second quarter. NewSquare Capital LLC now owns 368 shares of the insurance provider’s stock worth $34,000 after acquiring an additional 295 shares during the period. Westside Investment Management Inc. raised its position in Loews by 100.0% in the third quarter. Westside Investment Management Inc. now owns 370 shares of the insurance provider’s stock worth $37,000 after acquiring an additional 185 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Loews by 14,900.0% in the second quarter. Hantz Financial Services Inc. now owns 450 shares of the insurance provider’s stock worth $41,000 after acquiring an additional 447 shares in the last quarter. Institutional investors and hedge funds own 58.33% of the company’s stock.

Loews Stock Up 0.5%

L opened at $109.98 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.36 and a current ratio of 0.36. The company has a market cap of $22.66 billion, a price-to-earnings ratio of 13.78 and a beta of 0.61. Loews Corporation has a one year low of $78.98 and a one year high of $114.90. The business’s fifty day moving average is $106.46 and its two-hundred day moving average is $102.69.

Loews (NYSE:L) last announced its quarterly earnings results on Monday, February 9th. The insurance provider reported $1.94 earnings per share for the quarter. Loews had a return on equity of 8.86% and a net margin of 9.03%.The business had revenue of $4.73 billion during the quarter.

Loews Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Wednesday, February 25th will be issued a $0.0625 dividend. This represents a $0.25 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, February 25th. Loews’s dividend payout ratio is 3.13%.

Insiders Place Their Bets

In other news, Director Ann E. Berman sold 1,922 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $110.16, for a total value of $211,727.52. Following the completion of the transaction, the director directly owned 4,998 shares of the company’s stock, valued at $550,579.68. The trade was a 27.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Paul J. Fribourg sold 1,442 shares of the company’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $108.13, for a total transaction of $155,923.46. Following the completion of the transaction, the director owned 400 shares in the company, valued at approximately $43,252. This trade represents a 78.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 181,187 shares of company stock valued at $19,435,041. Corporate insiders own 19.00% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Loews in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy”.

Loews Profile

Loews Corporation (NYSE: L) is a diversified holding company that owns and operates businesses across insurance, hospitality, energy-related operations and other industrial and investment activities. The company holds controlling and significant minority interests in subsidiaries that run as standalone businesses, with corporate oversight focused on capital allocation, risk management and long-term value creation for shareholders.

One of Loews’ principal businesses is insurance, conducted through CNA Financial, a commercial property and casualty insurer that underwrites a range of business insurance products for corporate and institutional clients.